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Cryptocurrencies

CryptoLoan to offer Bitcoin-secured online loans

Monday 12 March 2018 | 10:03 AM CET

An alternative financial services provider VIA SMS Group has developed CryptoLoan, a lending product offering Bitcoin-secured online loans.

In the first phase of product development, CryptoLoan will offer online loans with Bitcoin collateral only to Swedish residents, but company development plans include expanding to other European markets shortly as well as enriching the list of accepted collateral with adding other cryptocurrencies. Customers from other European countries are welcome to sign up for news and get an exclusive opportunity to be the first to try the product as soon as it is available in the particular country.

When borrowing with CryptoLoan, an online calculator allows to manually choose the loan amount according to which the required collateral is then calculated. After securing the loan with the required Bitcoin value, the borrower receives the requested amount with a repayment term of 24 months. After the loan is repaid, CryptoLoan returns Bitcoin to the borrower’s wallet.

CryptoLoan is a new product of ViaConto Sweden that is a part of VIA SMS Group – an alternative financial services provider operating across Europe. VIA SMS Group offers consumer-lending services in Latvia, Sweden, Poland, Czech Republic, Romania and Spain, as well as operates peer-to-peer lending platform VIAINVEST, payment card with a credit line SAVA.card and offers various savings products.

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